Bradley Foster & Sargent Inc. CT Sells 150 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Bradley Foster & Sargent Inc. CT cut its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 15.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 835 shares of the industrial products company’s stock after selling 150 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Rockwell Automation were worth $230,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ROK. Norden Group LLC acquired a new position in Rockwell Automation in the first quarter worth about $2,003,000. SG Americas Securities LLC lifted its position in shares of Rockwell Automation by 186.9% during the 1st quarter. SG Americas Securities LLC now owns 14,731 shares of the industrial products company’s stock worth $4,292,000 after buying an additional 9,596 shares during the period. Comerica Bank boosted its stake in Rockwell Automation by 6.1% in the 1st quarter. Comerica Bank now owns 60,019 shares of the industrial products company’s stock valued at $17,485,000 after buying an additional 3,425 shares in the last quarter. Mairs & Power Inc. grew its position in Rockwell Automation by 2.4% in the fourth quarter. Mairs & Power Inc. now owns 384,684 shares of the industrial products company’s stock valued at $119,437,000 after acquiring an additional 9,132 shares during the period. Finally, Commerce Bank raised its stake in Rockwell Automation by 24.9% during the fourth quarter. Commerce Bank now owns 65,248 shares of the industrial products company’s stock worth $20,258,000 after acquiring an additional 13,018 shares in the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Automation Price Performance

Shares of ROK stock opened at $261.58 on Friday. The firm has a market cap of $29.82 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 4.57 and a beta of 1.37. Rockwell Automation, Inc. has a 12 month low of $242.81 and a 12 month high of $312.76. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. The stock has a 50-day moving average price of $265.23 and a 200 day moving average price of $270.14.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.08 by $0.63. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the company earned $3.01 EPS. Rockwell Automation’s revenue was down 8.4% on a year-over-year basis. Research analysts expect that Rockwell Automation, Inc. will post 9.67 EPS for the current year.

Rockwell Automation announced that its Board of Directors has approved a stock repurchase plan on Thursday, September 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

ROK has been the topic of several recent analyst reports. Morgan Stanley assumed coverage on shares of Rockwell Automation in a research note on Friday, September 6th. They issued an “overweight” rating and a $320.00 target price on the stock. Barclays decreased their price objective on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. Redburn Atlantic began coverage on shares of Rockwell Automation in a research note on Monday, July 8th. They issued a “neutral” rating and a $256.00 target price for the company. Bank of America decreased their price target on Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, TD Cowen cut their price objective on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Rockwell Automation presently has an average rating of “Hold” and a consensus price target of $282.80.

About Rockwell Automation

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products and services.